The New South Wales government says it will reinvest in infrastructure projects using the $2.6 billion it gets from selling a 35-year lease to the land title registry.

Premier Gladys Berejiklian and treasurer Dominic Perrottet today announced an agreement with an Australian consortium, Australian Registry Investments, to operate the Land and Property Information’s titling and registry services following a tender process.

The consortium is made up of 80% Australian institutional investors, including First State Super, investment funds from Hastings Funds Management and a 20% stake held by the Royal Bank of Scotland Group’s pension fund.

The government will invest $1 billion into upgrading Parramatta and ANZ Stadiums and refurbishing Allianz Stadium.

The remaining $1.6 billion will go to other infrastructure projects, including at least 30% in regional NSW.

A new external regulator, the Registrar General, has been created to enforce the consortium’s performance.

read more:

https://www.businessinsider.com.au/nsw-has-bagged-2-6-billion-selling-of...

The NSW government will privatise the running of scores of bus routes in Sydney's inner west, risking a major dispute with thousands of heavily unionised bus drivers.

Transport Minister Andrew Constance has justified contracting the tender for bus region six – covering suburbs from Kensington in the city's south-east to Strathfield and Olympic Park in the west – out to the private sector by citing poor performance.

read more:

http://www.smh.com.au/nsw/sydney-bus-privatisation-plan-sparks-accusatio...

Apparently though the full news is hard to find, the NSW government has made a secret deal with developers on historical buildings opposite the Opera House. More to come.

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The state government has budgeted $60 million from the sale of development rights for a commercial and residential tower near the Powerhouse Museum it wants to build in Parramatta.

The inclusion of the planned $60 million sale proceeds is revealed in a costing prepared by the Parliamentary Budget Office for the Labor Opposition, which requested advice on how much it would cost to maintain heritage properties in the area.

The demolition of those properties – an 1886 Italianate villa known as Willow Grove, and a row of seven terraces known as St George’s Terrace – was assumed as part of business cases prepared for the government’s planned Parramatta Powerhouse.

But the government has since said it would try to keep those buildings.

“We've never said it will go as part of the Powerhouse Museum,” the Premier, Gladys Berejiklian, said on the weekend of Willow Grove. “We've always said of course our intention is to save it,” Ms Berejiklian said.

If the government does preserve Willow Grove and St George’s Terrace, it would be at a cost to the budget bottom line. According to the costing, the government would have to forego $60 million from not selling the site to a private developer, which it has already included in budget estimates.

Asked about the seeming discrepancy, a government spokesman repeated the intention to preserve Willow Grove.

“A design competition is now underway to shape the future of the new Powerhouse Museum in Parramatta, including the Willow Grove site and other heritage buildings,” the spokesman said.

“The government will have the final say on that design.”

Read more crap from the Gladys government:

https://www.smh.com.au/national/nsw/government-says-it-will-keep-propert...

to be destroyed...

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The NSW government has imposed a $3 billion land and property sales target on its departments, including education, to buffer the state’s budget and bankroll future infrastructure projects.

Ministerial documents marked “sensitive” show the goal was set for government departments to meet by 2023 to “manage fiscal headroom and fund infrastructure”.

The briefing document, obtained by the NSW opposition under an order of Parliament and seen by the Herald, reveals the target is separate to the government’s broad privatisation plan, or asset recycling, that is being used to pay for much of the state’s roads, rail and other infrastructure.

The document, prepared for NSW Skills Minister Geoff Lee last year, reveals the state’s education agencies would need to find $90 million worth of land or property to sell before the 2023 deadline.

“TAFE NSW understands that the cluster’s contribution to the target is over and above divestments planned for asset recycling or other budget measures. TAFE NSW is required to meet this contribution commitment,” the September 2020 document says.

Opposition leader Chris Minns said the government needed to answer whether the $3 billion sales mark would impact frontline departments including education and health.

“Forcing departments to hit a privatisation target will mean selling off essential services that rightly belong to the public, and should continue servicing the people of NSW,” he said.

“This means selling $90 million worth of schools and TAFEs. It means selling land that should instead deliver more schools, not less.”

A spokesman for NSW Treasurer Dominic Perrottet said the surplus land and property sales target formed part of its asset recycling strategy that will increase its net worth by $234 billion by June 2022.

Read more:

https://www.smh.com.au/national/nsw/multibillion-dollar-land-sales-target-imposed-on-nsw-departments-20210810-p58hje.html

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